Dependents, employees, business associates, family members, and others may have a difficult time with disciplined adherence to a budget, saving for specific items in the long-term, appropriately prioritizing spending, spending habits, and money management in general. Often, money is spent spontaneously such that there is often not enough money left in a budget to buy high priority items. Many are then forced to go over budget and borrow money or take out lines of credit to pay for these high priority items. In most instances, paying back the funds borrowed or taken out on credit may be difficult, expensive, and prolonged. Existing money management systems may be too conceptual, too expensive, or too restrictive.
Also, it is often that consumers have multiple items they are saving for. Without proper management, lower priority items may take precedence over higher priority items, such as when the consumer saves enough for a lower priced, lower priority item, the consumer may purchase that item instead of saving a bit longer for the higher priority item.
Furthermore, when a savings goal is reached, the consumer may not be able to easily locate that item for purchase. This may occur if when the item was first identified from a particular seller or merchant, that seller or merchant either is no longer in business or no longer has that item available when the consumer is ready to make the purchase. The consumer is then required to search for the item, resulting in inconvenience as well as the possibility that the item now requires more money than what the consumer saved for.
Therefore, there is a need for a way for consumers to better save for multiple purchases without the disadvantages with conventional methods above.